Intel Shares Double After Apple Deal

Intel Secures Preliminary Chip Manufacturing Deal with Apple

• Intel’s shares surged 19% on May 8, closing at nearly $125, marking a year-to-date increase of approximately 240%.
• The preliminary agreement with Apple aims to diversify Apple’s chip supply chain, reducing reliance on TSMC.
• Intel’s US foundry now partners with major companies including Microsoft, Amazon, Tesla, and Apple.
• The US government’s $8.9 billion investment in Intel under the CHIPS Act has grown to an estimated $55 billion.
• Apple’s stock saw a modest 1% rise following the announcement, contributing to an 8% year-to-date gain.

Intel’s preliminary agreement to manufacture chips for Apple has significantly boosted its stock value by 240% this year. Meanwhile, Apple’s stock increased slightly by 1%, reflecting strategic diversification efforts in its supply chain.